The new airline thread

[ImNotARobot]

You might be shocked by how many have MORE than two ex wives.

Also, despite their hyper inflated views on their ability to act as their own financial planners, many, many of the “old heads” have done poorly in the markets & despite making millions over their careers, are not in a great retirement position.

a majority of dudes in this business are blatant money whores

Couldn’t figure out how to bold your statements here. I’m not smart.

You nailed it, particularly with point #2 above. This is definitely true at FedEx. I couldn’t tell you how many old heads I fly with that insist on forcefully telling me how to invest in some sweet schemes. It’s just sad to fly with dudes who have been widebody Capts for 15+ years and have found creative ways to get their burn rate to exceed their earn rate.

I diffuse these situations with humor…wait until I can fit a word in, and then “I’m really glad you brought up investing, because I normally come to pilots for two things—investing advice and conspiracy theories, and I can’t WAIT for the second half of this conversation”

I use a financial advisor; I’m a big scared oversaver; I don’t touch any investments until my annual rebalance with the financial advisor. His projections for my retirement are psychotic. I’m actually rooting for 5-10 years of a down market where I will (boring) just keep buying the sale every paycheck, see where it goes from there. Not saying it’s the right way, just that it’s my “sleep at night” way.

I can’t even correctly bold an internet quote; where would I find the time/smarts to stress about the market?

[SocialD]

Listen to the guy who talk about how they make side income/tax write-offs via a business, not the guys trying to get you go in on this "no fail" deal that promises to make you rich (I've never actually flown with one in my decade in the airline business).  On my last trip, I learn a shit ton about S-Corps and how you can use them to your benefit, especially when you start making Captain pay.  Dude wasn't trying to sell me anything or hype up anything, simply answering questions about a small business he's ran for well over a decade.  Crazy enough, he was still on spouse number #1.  

[skibum]

It's not about how much you make -- it's about how much you spend. My best friend was one of the top five earners at SWA for three years in a row, never divorced, and is in debt up to his neck. He says he'll never take the shot, but I got money on the table that says he will.

[FDNYOldGuy]

6 hours ago, ImNotARobot said:

I don’t touch any investments until my annual rebalance with the financial advisor.

This is about the smartest thing 99.69% of us can do; invest conservatively in a few ETFs/funds and just keep plugging away at building it up. A financial advisor is helpful, too, if you find one you trust. Just be wary of them trying to push anything too hard or crazy; some are not fiduciaries bound to your best interests and are paid commissions to sell you specific products that might not be what you need.

"Time IN the market is better than timING the market," and most of us would be better of following George Carlin's advice ("It's a big club and you ain't in it") over thinking we can beat the market with some "only we see it" investment. Sure, every once in awhile, you hear of someone hitting it out of the park, but those voices are always pushed to the front and much louder than the thousands and thousands of folks that bet big on the next big XXXXX and lost their asses. People don't talk nearly as loudly about their failures as they do their successes. 

[Fast_N_Low135]

Does anyone else find it ironic that the airline tread has just turned into the financial advice thread, or is it just me?

[TheNewGazmo]

5 minutes ago, Fast_N_Low135 said:

Does anyone else find it ironic that the airline tread has just turned into the financial advice thread, or is it just me?

You didn't think we were in here because we love to fly, did you?

[ImNotARobot]

Ironic? I don’t think so. Airline guys can make more money than is rational. Trying to smartly place/invest excess funds is all part of managing monthly schedules (how much do I NEED to work?) and annual family budgets.

But I get your point…

FedEx is hiring! Based on recent anecdotal info: It’ll take about 6 months from app publication until a potential email interview invite. There are approximately 300 in the hiring pool right now; looks like another 3-4 months after job offer before Basic Indoc.

[Hacker]

1 hour ago, Fast_N_Low135 said:

Does anyone else find it ironic that the airline tread has just turned into the financial advice thread, or is it just me?

Not at all.

The entire point of an airline career is to work little and get paid a lot...it isn't about the passion or enjoyment of flying.

An airline career gives you both the time and finances to enjoy life outside of work, rather than simply cramming your families, hobbies, and other passions into the little crevasses around that supermajority chunk of your time and emotional energy that a military career demands.

Manage that money correctly, and you'll be able to retire early and *really* do whatever it is you would do if you had financial freedom (like fly cool shit for fun!)

[Fast_N_Low135]

44 minutes ago, Hacker said:

Not at all.

The entire point of an airline career is to work little and get paid a lot...it isn't about the passion or enjoyment of flying.

An airline career gives you both the time and finances to enjoy life outside of work, rather than simply cramming your families, hobbies, and other passions into the little crevasses around that supermajority chunk of your time and emotional energy that a military career demands.

Manage that money correctly, and you'll be able to retire early and *really* do whatever it is you would do if you had financial freedom (like fly cool shit for fun!)

I fully agree being a major airline pilot myself.  My comment was tongue in cheek, my sarcasm emulator is clearly malfunctioning.

[Hacker]

1 hour ago, Fast_N_Low135 said:

I fully agree being a major airline pilot myself.  My comment was tongue in cheek, my sarcasm emulator is clearly malfunctioning.

Nah, I'd guess it's mine that needs to be written up. 

[nunya]

4 hours ago, Fast_N_Low135 said:

Does anyone else find it ironic that the airline tread has just turned into the financial advice thread, or is it just me?

Next we'll dive into religion, politics, and COVID and it'll be just like the longest 5-day in history!

[hindsight2020]

1 minute ago, nunya said:

Next we'll dive into religion, politics, and COVID and it'll be just like the longest 5-day in history!

yeah buddy. It's a shame single pilot jobs don't pay squat. "I rather have the extra gas" *slam click* 😄 

 

[ClearedHot]

I figured the thread would morph into how airline pilot develop alimony mitigation strategies to deal with four ex-trophy wives.

[SurelySerious]

It just had to take time for the participants to go through the stages of airline life.

[Guardian]

I figured the thread would morph into how airline pilot develop alimony mitigation strategies to deal with four ex-trophy wives.

We’re listening….

[TheNewGazmo]

Lesson #1 in the ATP ground school should be - Avoid Marriage at all costs.
Lesson #2 in the ATP ground school should be - Understanding the beauties of the Prenup (if you failed Lesson #1).

[SocialD]

10 minutes ago, TheNewGazmo said:

Lesson #1 in the ATP ground school should be - Avoid Marriage at all costs.
Lesson #2 in the ATP ground school should be - Understanding the beauties of the Prenup (if you failed Lesson #1).

 

Fixed it for you.  

[Prozac]

3 hours ago, ClearedHot said:

I figured the thread would morph into how airline pilot develop alimony mitigation strategies to deal with four ex-trophy wives.

Three easy steps: Move to the Philippines. Marry LBFM thirty years your junior. Give middle finger to prior ex’s. Might seem a bit extreme but this is a well worn path my friends. 

[TheNewGazmo]

22 hours ago, Prozac said:

Three easy steps: Move to the Philippines. Marry LBFM thirty years your junior. Give middle finger to prior ex’s. Might seem a bit extreme but this is a well worn path my friends. 

I would not marry LBMF.  Just exploit the acronym.

[Guest]

23 hours ago, Prozac said:

Three easy steps: Move to the Philippines. Marry LBFM thirty years your junior. Give middle finger to prior ex’s. Might seem a bit extreme but this is a well worn path my friends. 

It is for sure a “well worn” path 🤣

[Springer]

On 10/21/2021 at 11:15 PM, Prozac said:

Three easy steps: Move to the Philippines. Marry LBFM thirty years your junior. Give middle finger to prior ex’s. Might seem a bit extreme but this is a well worn path my friends. 

Speaking from someone who was single his entire airline career, no need to commute from the Philippines when you work in a target rich (not slighting you Hacker) environment.

[Prozac]

2 minutes ago, Springer said:

Speaking from someone who was single his entire airline career, no need to commute from the Philippines when you work in a target rich (not slighting you Hacker) environment.

Yeah, there is a certain age/generational demographic that seems to be attracted to this particular plan of action. For some reason, many seem to insist on buying the cow (often multiple cows, one after another), regardless of the price of the milk. To be honest, I don’t get it either, but I guess we all have our proclivities. 

[FLEA]

Anyone happen to be at RTAG? I've been incredibly impressed with this event and I've met lot of "good dudes" flying home with some great opportunities in their laps. 

[slc]

Funny thing. Here in SAN on a layover and walked by the event location. Saw everyone walking out suit and tie etc. Had to google RTAG out of curiosity. Had no idea this existed.  

[Guardian]

I could easily look it up. But I’d rather hear it from unbiased peeps. What’s RTAG?